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10-06-2008, 03:41 AM
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#1
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Montana Master
Join Date: Jan 2007
Location: Lobelville
Posts: 2,128
M.O.C. #6650
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Oil dropping....
The only good thing to come out or this Bail out of Wall Street is OIL its below $90 dollars a barrel in some markets. Donald Trump say about 2 weeks ago that oil would fall. Looks like we (Tax Payers) will now have to bail out some States who have wasted their money as our Government has? GBY.....
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10-06-2008, 06:09 AM
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#2
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Montana Master
Join Date: Jan 2005
Location: North Ridgeville
Posts: 20,229
M.O.C. #2839
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For those who are paying attention this now global economic crisis is very scary. Banks and finanical institutions are failing around the world and the good old USA can take all the credit..Not OPEC not the Arabs not those middle East nations our greed and unregulated finanical system has ruined untold millions of lives around the world. It is not even close to over..it will get much worse. The bailout is rewarding those who caused the problem and the ordinary folk who was the victim will be further victimized. The finanical institutions will now have more of our money to lend to the folks who are already in debt because of the criminal actions of bankers, banks and other lendors. In this single industrial county in Northern Ohio, Auto Plants, Steel Mills and associated industries.. since 2006 5,566 homes have gone into foreclosure.
1,927 thus far this year..there will be more..But not to worry..The banks and lending institutions will be bailed out but not the folks who lost their homes...We have been unaffected..We are among the very fortunate..thus far...
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10-06-2008, 07:29 AM
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#3
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Montana Master
Join Date: Oct 2006
Location: _
Posts: 5,238
M.O.C. #6337
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Every month, I thank my maker, the retirement check (Ford Motor Company) came in and the mortgage is paid.
Stock market is looking rather shaby today again. SIGHHH
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10-06-2008, 07:39 AM
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#4
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Montana Master
Join Date: Sep 2007
Location: Texas City
Posts: 5,736
M.O.C. #7673
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My TSP took a big hit since Dec 07! (Well, big for me.) I should never have looked at it today.
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10-06-2008, 08:15 AM
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#5
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Montana Master
Join Date: Jan 2005
Location: North Ridgeville
Posts: 20,229
M.O.C. #2839
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Wayne..As retired Feds we have the same TSP.. Glad we do not rely on it for any retirement income.Last I looked we were down 12% and in free fall. What did we do wrong...nothing..what did the managers of the fund do..acted irresponsibly as as we are finding out perhaps criminally.. They will be bailed out...we are just..out..
Crap..I just looked..we are down 21.94%.
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10-06-2008, 08:27 AM
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#6
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Montana Master
Join Date: Oct 2006
Location: _
Posts: 5,238
M.O.C. #6337
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Ford Stock, last purchased at price of around $28.00 per share
Now selling around $4.00 (or was last time I heard/looked, no looka no more!  )
I don't know how many shares, don't want to know.
Do you think I will live long enough to see it go the other way??
What did we do wrong, eh Rich?? Believed the PR surrounding the stock market and investments that has been floating around for the last 20 years??
AHHHHH, Tana, every day spent there is twice blessed.  
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10-06-2008, 08:56 AM
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#7
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Montana Master
Join Date: Sep 2007
Location: Texas City
Posts: 5,736
M.O.C. #7673
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Rich, Carol,
I told you I looked - you should not have.
Rich,
My astute Colonel son said "Leave it alone!" Easy for him to say.
I don't count on my TSP either, it's just there for that rainy day. Forgot to figure the hurricane.
Disheartening to say the least!
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10-06-2008, 10:10 AM
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#8
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Montana Master
Join Date: Jan 2005
Location: North Ridgeville
Posts: 20,229
M.O.C. #2839
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Wayne...interesting article about the TSP fund http://www.fedsmith.com/article/1731/
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10-06-2008, 12:26 PM
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#9
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Montana Master
Join Date: Jan 2007
Location: Lobelville
Posts: 2,128
M.O.C. #6650
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I also had a Son back in the 80's say Dad don't worry the market will come back, well it did but I still lost thousands before I got out. There is no future in Wall Street unless you work there. I seen Donald Trump say today Oil will continue to fall as long as the economy is in a Tail spin. Hang on tomorrow will be a thing to watch. GBY.....
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10-06-2008, 03:39 PM
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#10
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Montana Master
Join Date: Jan 2005
Location: North Ridgeville
Posts: 20,229
M.O.C. #2839
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The OPEC folks have been saying all along that Oil was being pushed artificially high by our speculators and there was ample supply.They said oil should be at @ 60 to $80 a BBL..it is ow ar 88 and falling..If we survive I hope there is a lesson learned..
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10-07-2008, 04:50 AM
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#11
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Montana Master
Join Date: Sep 2007
Location: Texas City
Posts: 5,736
M.O.C. #7673
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Rich,
Same thing my son said. let it sit and it will climb back up. (Hope they are right!)
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